St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-11-05
THE COMMERCIAL RECORD.
Extreme Dizziness Characterizes all the
Markets on the Chicago Board
Yesterday.
Wheat Opened Strong and Higher, but
Corn Was Almost Entirely
Featureless.
Transactions in the Financial Circles OF
Wall Street.-The General
Quotations.
snenial to the Globe.

ing. Receipts of live hogs at the yards were
below expectations, and they were quoted at
10@15c higher. On change the opening was
rather tame, but packers became buyers very
generally, and the market developed sudden
strength. Pork advanced 12l2c within
half or three-quarters of an hour, lard 1Oe
and ribs sc.
January pork sold up tc $12.65, January
lard to S6.45 and January ribs to S6.37l2.
Wheat was strong on good, supporting
orders, and in sympathy with provisions
December sold at 70ss@7Os4c, January at
73ssc and MAY at zoe during the first hour.
Corn ruled steady at Also for December
and 45lS@45Ac for May. Trading
in grain was on small scale
The local wheat market is narrow and it
seems to be getting narrower as the stocks Of
grain continues to decrease. The quantity of
wheat in store in Chicago elevators is now
under OOO. 900 bu and the contract grade
is down to about 100000 bu. There is
nothing in the speculation to encourage in
vestment and the light local stocks deters
speculative short-sellers so long as the bears
run at every little bulge the bulls
cannot engage in a long campaign.
Indications points to the conclusion
that they are merely milking the market
and unless radical change occurs they are
not liable to deviate from this programme
Immediately with local stocks so light and
closely held, there is very little prospect OF
the market becoming oyersold at reigning
prices. unless it should get in that condition
or the pu bic come in. There is little for the
professional TO play for at this juncture That
they are playing hard for that little is evil
dent, however, to those who watch the daily
action change. Trading to-day was entirely
narrow, being within l2c limits. Cables were
barely steady, and the same is true of Ameri-
can markets,
THE PULL Is DOWNWARD,
but the commercial situation is exception
ally strong The foreigners have no fears of
the future. They are taking little wheat, but
their purchases of flour are on a large scale
and on sellers terms. The millers are left in
control of prices and they take liberal cut
both way, reducing the price of wheat and
making up their goods on Europe. This is a
state of affairs pleasing indeed to the millers.
The ! O'Clock range here to-day was only
fractionally different from yesterday and the
little change is without significance. Corn
ruled dull and steady. II is getting late
for lake shipments. The end of
navigation is rapidly approaching
and yesselmen are making preparations &C
eordingiy. Fluctuations in quotations to-day
were too narrow to be worthy of mention.
Provisions did not hold at the early advance,
but the tone of the market can't be described
as weak at any stage. The demand slack
ened some, that was all. The shipping in
quiry was fully up TO expectation. Packers
are beginning to dispair of seeing the day of
cheap hogs this year. Lake engagements
were reported to day as 35O, 900 bushels of
6alc Nfn o,,d Il
bushels of fax seed. Estimated receipts for
tomorrow: Wheat 100 cars; corn, 25S;
oats, las; hogs, 10000 head.
THE ROUTINE REPORT.
CHICAGO Nov. 4.-EXtreme dizziness char
acterized the markets on change to-day
Wheat opened stronger and higher, with De-
eember at I314c. gain of Lc. May, how
ever, during the earlier part of the session,
showed greater volume of trade than the
nearer options. 1t is claimed that December
IS already being changed to some other op-
ton at lie premium At one time the De-
cember option got up TO 1889. but before
noon the fraction was entirely lost and it
settled back to 73c. and closed at 727ac. May
closed at 7S5sc, a loss of l4c from yesterday s
closing figures. Corn was dull and feature
less to-day, aud prices fiuctuated within
a narrow range. The tone of the
market was firm, due mainly TO moderate
buying at times by prominent local opera
tor. Outside orders were limited and there
WAS lllll6 u1eIlOSltlOu Oll part VI lOCdl Up
orators to trade to any extent May corn
opened at 45Isc, sold up to 453sc. ruled dull
and closed at 451s@4514c. Oats were very
dull and quiet to-day and there were no ma
terial changes in values. Provisions were
more active to-day, decidedly strong feel
ing being developed. The market opened
rather firm under the influence of an ad-
vance in the hog market and good demand
from local and outside "shortS." The offerings
were fair and readily accepted at the advanc-
ing scale of prices, with the interest eentered
largely in contracts for January delivery.
Later in the day more quiet feeling pre-
vailed, and prices settled back again, but the
market closed rather steady. Some transfers
of contracts were made at the current differ
ences. The undertone of the market indi-
Gated rather more confidence by outside buy
ers. and orders were largely on that side of
the market. There was some realizing by
room traders at outside figures. January
pork sold at S12.55@1270 and closed at the
former figure. January lard sold at ST 37l2
@6.40, closing at S6.3Tl2. January short
ribs sold at $6.32l2Q6.37I2 and closed at the
latter figure.
THE QUOTATIONS.
The leading futures ranged as follows:
Mheat-No. 2, November, Else, closing at
January, 1850, closing at 73l4c: May, 79c,
closing at 7S5sc. COrn-NO. 2, November,
Also, closing at 41l2c; December, 1850,
closing at 41ss; January, 41SBc, closing at
Also; May. 451sc, closing at 45Isc. Oats-No
Der, closed at 25s4c; May, 29ssc, clos
ing at 29ssc. Mess pork, per bbl jan
nary. S12.55. closing at S12.55; February,
&1267I2, closing at S1267l2: May, S13.13,
closing at S13.05. Lard, per 100 lbs, NOvem-
Der, S6.37I2, closing at S6.37l2 December,
Sc. 37I2, closing at Sc. 3712; January, 6.37I2
closing at $40; May, 500, clos
ing at 500. Short ribs per 100
January, $6.32I2, closing also 32I2;
February, S6.4O, closing at S6.4O.
Cash quotations were as follows: Flour
in fair inquiry, without special change in
prices. No. spring wheat, 71B@72c; No.
8 spring wheat Csc; No. 2 red. 73c. Corn
No. 2. 41l2c. 0ats-No. 2, 25I2c. Rye
No. 2, SEE. Barley-No. 2. 7Sc. Flax Seed
No. l, S1.15. Timothy Seed-Prime
81 21@2. %. Mess pork. per Dbl. 12.506
1875. Lard. per loo lbs $40. Short rib
sides, Qoose), S6.4C@6.5O. Dry sailed
shoulders (boxed), S5@5. 20. Short clear
sides (boxed), S6.70@6. TO. Whisky, dis
tillers' finished goods. per gal S1.lO
Sugars, cut loaf. 7I4@73Sc; granulated, &c;
standard "A 6ssc. Receipts-Flour, Is, 900
bbls; wheat, 10000 bu; corn, l63, 900 bu;
oats, 175,0 900 bu; rye. 5000 bu; barley
$1,000 bu. Shipments-FlOur, IL 600 bbls
wheat, 149, COO bu: corn, 134, 600 bu: oats
LA, 600 bu; rye. 5000 bu; barley, 10000
blu. On the produce exchange to-day the
butter market was steady at 21@2612c for
creamery and 16@24c for dairy. Eggs firm